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Web3 is a continuation of the Bitcoin (BTC) Revolution

Web3 is a continuation of the Bitcoin (BTC) Revolution

Michael Saylor Shared: BTC is property. USD is currency. Crypto is risk. Web3 is marketing.

Community Reaction:  So, we still don’t know what exactly BTC is: Property vs. Currency or?

No one does. Bitcoin is sort of a sovereign and sort of a payment system but not the best at any of them.

I think of Bitcoin as more of a currency and blockchain as more of a payment system.

It’s property. It’s taxed as property. The law says it’s property. If you trade it for something else you use it as currency. They are not mutually exclusive.

But you can go to some cryptocurrency countries to exchange and change your dollars so you can avoid the tax issue.

You both remind me of some people I recall in the early 90s. I love BTC. Don’t feel the need to point out its flaws. But all these maxis sure feel the need to point out the issues of everything that isn’t BTC. And, forget that we all are viewed the same by no coiners.

Robert Metcalfe, in InfoWorld, 1995: “I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse.”

I want Saylor to find all the posts I read on the old SR subreddit long ago. Very early Maxis. Not one talked about property. It was about one day buying tacos with BTC. Who would trade their London property for a carne asada taco? (I hold BTC among other projects) just saying.

This is extremely common, that things find mass adoption for a use case different from the one they were created to fulfill. This is how we have advanced since the beginning of time.

Hence blockchain is expanding into different use cases. But many maxis feel there is only room for BTC. Hal himself sort of predicted NFTs.  I am an analog artist. 1 year to finish 1 piece. But I believe most of art will be NFTs viewed in a ‘Verse (no need for AR) type of 3D web.

I don’t think it’s cut and dry, and to be clear, maxis simply view Bitcoin as the money layer with no other crypto coming remotely close to competing for that use case. In a crypto ecosystem, Bitcoin is the unit of account. I see no reason other projects won’t take off.

BTC (2017) is what got me into crypto. But Saylor seems to offer this—> BTC is digital property. Later, we use as collateral based loans then buy what we want. Seems cumbersome to have a medium of exchange based on loans? Or am I not getting his “BTC is digital property” thesis?

I want money/investment that stores, secures, & grows the wealth I allocate to it over time. Bitcoin works exceptionally well for this use case. Saylor has his company’s treasury held in BTC. People suggest loans because BTC appreciates more over time than interest paid on loan.

I’m not disagreeing with you. The catalyst was his statement reducing Web3 to mere marketing. This reminded me of all the articles I read in the early 90s calling the web a fad.  I think I’m just happy. This reality just reminds me of many of the stories I read in IASFM.

Bitcoin is not and I repeat NOT some Utopian solution to the world’s financial problems. It failed as a payment method and now the people that have billions invested in it spend massive money promoting it as a store of value. No real utility and it’s not ISO20022 compliant.

Web3 is a continuation of the Bitcoin Revolution, taking those learnings and applying them to commercial SaaS. In terms of globally decentralized blockchains, there will be as few as possible. But, there will at least be more than one.

Name a single web3 use case that can’t be built on layer 2 or layer 3 of the most secure and valuable blockchain (BTC).

People need to learn the math behind bitcoin. Everything gets cheaper on this unlike the dollar where things get more expensive. Bitcoin is good for mankind.

Retail investors are not suitable to invest in BTC, BTC is a businessman’s game, if retail investors want to use BTC to counteract inflation, then please be prepared to go bankrupt.

The little BTC held by retail investors can’t resist inflation at all. According to statistics from October 2020 to December this year, the mainstream currency next year must be USDT.

Your logic is that, for instance, 0.1 will not resist inflation, but 100 or 1000 BTC will. That doesn’t make sense at all. You need to stop listening to ETH people. Do you own work and learn more about Bitcoin; It’s not too late.

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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